Section 64A 1[Penalty for initiating frivolous or vexatious proceedings under Part II.
If any person has initiated a frivolous or vexatious proceeding before the Adjudicating Authority under this Part, it may impose upon such person a penalty which shall not be less than one lakh rupees, but may extend to two crore rupees].
Foot Note:
1. Ins by the Insolvency and Bankruptcy Code (Amendment) Act, 2026